DIGGERS and cranes were seen busy at work in Stockport town centre on the second anniversary of the council's Masterplan project last week.

DIGGERS and cranes were seen busy at work in Stockport town centre on the second anniversary of the council's Masterplan project last week.

The ambitious scheme promised to secure a staggering £500m of investment for the creation of town centre housing, revamped public spaces and retail developments when it was launched.

And the first stages of the project are now being realised with the transformation of St Peter's Square into a pedestrianised 'urban park' well underway and landmark buildings, such as the Salvation Army Citadel, on Hillgate, being given a new lease of life as town centre flats.

So far 138 new homes have been created but almost 1,000 new properties now have planning permission, with work likely to begin shortly.

The creation of a multi-million pound retail development, adjacent to Merseyway Shopping Centre on Bridgefield Street, was also announced in April this year, with a public consultation planned for the summer.

Executive member for regeneration councillor Sue Derbyshire said: "Since launching Future Stockport we have seen almost £30m of business investment in the town centre and the creation of more than 900 new jobs.

"Housing development continues to be a focal point and it will be supported by the growth of leisure facilities to meet residents' needs and increase public safety. It's still early days but the future is bright for Stockport's economy."

However, despite the initial success of the Masterplan project opposition leader councillor Peter Scott believes much more needs to be done to secure future developments in the town centre.

Coun Scott said: "There has been a good start made but if we are not careful other towns might take over and become more attractive to developers. So we are anxious to keep the pressure on the council to push ahead with this and deliver."

He added: "The increase in residential homes will change the face of town centre with more and more young professionals living there.

"They will place demands on the facilities provided in the town centre and the council needs to be prepared for that."

The majority of housing being created in the town centre is based around the Hillgate area and includes a 350 property development at Hopes Carr.